Department of Agriculture March 6, 2008 – Federal Register Recent Federal Regulation Documents

Rural Business-Cooperative Service (RBS), an Agency within the United States Department of Agriculture (USDA) Rural Development, announces it is accepting applications for fiscal year (FY) 2008 to purchase renewable energy systems and make energy efficiency improvements for agriculture producers and rural small businesses in eligible rural areas. Funding will be available in the form of grants and loan guarantees. In addition to stand-alone grants and loan guarantees, applicants may apply for combination loan guarantee and grant funding (combination package). For renewable energy systems, the minimum grant is $2,500 and the maximum is $500,000. For energy efficiency improvements, the minimum grant is $1,500 and the maximum is $250,000. Funding for grant and loan combination packages will be funded from the same allocation as loan guarantees. Fifty percent of the appropriated grant funding will be reserved for the first grant-only competition. Any unused grant only funds from the first competition will be made available for the second grant-only competition. The maximum amount of a guarantee to be provided to a borrower will be $10 million. For FY 2008, the guarantee fee amount is 1 percent of the guaranteed portion of the loan and the annual renewal fee is 0.250 percent (one-quarter of one percent) of the guaranteed portion of the loan. For FY 2008, the following are the funds provided by Congress for the Section 9006 program: For grants, $15,888,000, and for loans, $204,953,560.